What is the difference between accounting and bookkeeping,

May 19th, 2015

Studypool Tutor

University of Winnipeg

Price: $25 USD

Tutor description

Bookkeepers perform a critical function for the firms and organizations they serve. Regularly challenged to maintain precise andaccurate records, bookkeepers produce the vital reports that keep management up to date on the financial.

What is the difference between accounting and bookkeeping?Bookkeepers perform a critical function for the firms and organizations they serve. Regularly challenged to maintain precise andaccurate records, bookkeepers produce the vital reports that keep management up to date on the financial condition of theircompany.Bookkeepers are responsible for maintaining the "business checkbook", much like a personal checkbook. They record routinemoney transactions like customer payments into a "cash receipts journal" and checks to vendors into a "cash disbursementjournal." They also process payrol